Eidoo Wallet Review-Multicurrency wallet and Ico Review

As a crypto investor, every trader needs to secure his/her coin or digital currency. For this, we all crypto lovers search for the very basic thing for securing our currencies that is the crypto wallet.

In a modern day of digital marketing and investment, we always try to updates, you all people. In a matter of a new coin launch, a new Blockchain. With this all-new launches, the aspects in the markets are growing really fast in the matter of growth. Also when we see the growth way we also concerned about the secure way. That is why with the launches of new coins, Blockchain we see that for the security purpose the new crypto wallets are also launching with this.

Today we will talk about on the same topic. The new wallet that has been launched known as, Eidoo wallet.so let start Eidoo Wallet Review.

What is Eidoo wallet?

Eidoo wallet is multicurrency and a multiasset wallet with Ethereum, Bitcoin and all the other ERC20. Eidoo is a multi-currency wallet with a hybrid exchange built in it. You can search it on Eidoo.io. It is also known as “a Blockchain asset experience”.

There are some lacks in the wallets that are currently available in the market. In some wallet you can buy your cryptos but cannot sell it, some of them are having the storing issue, the trading issue in fiat, some security issue. So all wallets are not the perfect wallets that all users demand. Eidoo wallet is aiming to solve this problem only.

Eidoo wallet is a wallet where you can trade with your coins in such simple way and a secure way to store it, purchase, sell, and transfer digital assets. In addition to that, you can buy or sell any goods paying in cryptocurrency without depending on any other central organization.

You can search this site online as described above. Also, you can download it from the play store for the Android and the IOS version from the apple store.

New services and the exchange of cryptocurrency and token will be fixed firmly to the platform. As it a hybrid exchange platform the system will never require assets to be transferred to any third party organization.

How do Eidoo wallet works?

It is simply separated into two stages and the two teams also. The first the Ethereum team and the other one is the Bitcoin team. They also have the same vision like others. Creating an accessible and secure wallet for blockchain based assets. It will be generated in a fast and easy to use the method. The method which they will be going to use is based on the Ethereum ERC20 standard with an EVM contract.

On the Ethereum side, Eidoo is going to create an Ethereum light client. A client that is capable to verify all the keychains important to validate the information received by other nodes. Irrespective of other Ethereum address, without the need to download and validate the entire blockchain.

The Eidoo hybrid exchange will always keep the keys on the mobile device only. So that if the trading has some kind of problem you will not lose your keys. It has a unique feature known as atomic swap transactions. In this feature, your token will never leave your wallet until and unless your transaction is done.

On the Bitcoin side, the Eidoo Bitcoin wallet will manage the generic assets in the Bitcoin Blockchain only. The light network method will be used for the Bitcoin exchange. Here the user can transfer the asset in a cheaper and safer way.

Like the ERC20 the bitcoin exchange also comes with the deterministic key(a pair of 12/24words) called as seed based on a BIP39 standard formula. It will improve the security level of trading in the exchange.

Further improving it Eidoo will use Hierarchical Deterministic wallet app. Where user will have the full control on their transactions.

Token sale of Eidoo

53.24% of Eidoo is already sold. Total 10,648,309 EDO are sold till now.

Rate: 1ETH= 130 EDO

Total 81,910.07 ETH is raised. This data is till 15 to 16 October they will vary according to the time. Token sale of Eidoo is scheduled for October 4 to October 16, 2017. The company is releasing EDO tokens. You can purchase the tokens and participate in it directly through the app.

Roadmap:

Ethereum wallet is launched in August 2017. Technology white papers are released in September 2017. Ethereum funding informative prospect is also launched in September 2017.

Half of exchange will end till 2017. Then wallet Bitcoin Q1 is planned to launch in 2018, same with the DAPP module Q1. Also, Eidoo debit card will be launched till 2018.

In phase 2 full exchange of EDO will be there in 2018. Then the company will move to the Eidoo national identity integration. Then there will be more of external services. Finally, the wallet with more Blockchaiions will come in 2019.

Eidoo Wallet Review

It is an HD wallet.

Due to Eidoo recovery tool built in it, it will provide a maximum level security

Ethereum, Bitcoins and all the other ERC20 tokens are stored with a single backup passphrase.

Private keys will be in the device

The user will be in the full control

It as safe as a decentralized exchange

As fast as the centralized one

The user will enjoy trading with the most competitive fees on the market

Cross trading between ETH and all the other ERC20

Who is behind Eidoo?

It is basically a Switzerland- based team.

CEO- Thomas Bertani

Founder- Natale Ferrara

Co-founder- Marco Polci

Conclusion:

Eidoo simplifies the interaction between the blockchain and its users. Here you can trade, buy/sell, transfer and store your coins. It will provide a multi-purpose platform to the user. It will give the user a new platform to trade in the digital market in a safest, cheapest, fastest manner in a highly secure way.

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About Author

Mahesh Chaube

Hey,
This is Mahesh Chaube, computer Engineer by Education and Crypto Blogger by Profession From Mumbai. Here at coinraja i write about money making and Reviews on Cryptocurrency Related Thing. I hope you are enjoying My post.
cheers !!

2 Comments

HenryOctober 22, 2017

I’ve been skimming through their website and reading your article, but couldn’t find anywhere that mentions about the problem of losing the user’s mobile device. To my understanding, it seems that digital assets are stored on Eidoo’s server and the pass-phrase never leaves the user’s device. Users can restore their wallet on a new device with their key, is that right then?